Selling a check

Q . What is the ruling in the matter of selling post-dated checks or bills of exchange for less than their nominal value for cash?

A: There is no objection to sell a post-dated check or bill of exchange to another person for less than their nominal amount for cash and it is permissible. However, it is impermissible and problematic to borrow and give a post-dated check  with a higher nominal amount which amounts to ribā-based loan and ḥarām act although it is not remote to say the very loan deed is correct.

 

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